The prevailing high rate of the environment has led many students to reassess the value of higher education. In the US, the average unemployment rate is higher among recent graduates than experienced high school-educated workers (Statista, 2022). In addition, the average starting salary for college graduates is higher than experienced workers (Schooley, 2022). Nevertheless, most young people still prefer to pursue higher education despite this investment’s high cost and limited opportunities. A well-planned investment in education presents long-term benefits that high-school leavers can only envy.
College-educated workers have better opportunities for career progression. Their extensive professional networks, critical thinking skills, and readiness to face challenges enable them to advance on the career ladder. In addition, they have a lower risk of redundancy, primarily if they have specialized skills with high demand. Further, after gaining the requisite experience, workers having education qualifications get higher pay than artisans. Lastly, higher education enables workers to exude more confidence and to adopt a positive approach to life, enabling them to assume leadership positions at work. These benefits far outweigh the initial cost of a college education.
The benefits of college education accrue over the long term. Consequently, focusing on short-term labor market trends causes erroneous assessment of the value of college education. College-educated workers enjoy higher benefits, enabling them to recoup their investment and enjoy a higher standard of living. In contrast, non-college-educated workers face bleak prospects in the labor force. They receive low compensation, are more likely to be declared redundant, and have lower opportunities for returning to the workforce once retrenched due to their limited skills and lack of professional networks. Therefore, a college education remains valuable even in the modern labor market.
References
Schooley, S. (2022). Comparing candidates: Should you hire experienced workers or recent college graduates? Web.
Statista. (2022). US – unemployment rate of recent graduates 2016-2022. Web.